HSBC (LON:HSBA) Hits New 1-Year High - Time to Buy?

HSBC Holdings plc (LON:HSBA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 768.30 ($9.75) and last traded at GBX 766.60 ($9.73), with a volume of 173540188 shares changing hands. The stock had previously closed at GBX 762.89 ($9.68).

Analysts Set New Price Targets

HSBA has been the subject of several recent research reports. Berenberg Bank reiterated a "buy" rating and set a GBX 870 ($11.04) price target on shares of HSBC in a report on Wednesday, August 21st. Citigroup reiterated a "top pick" rating on shares of HSBC in a research note on Thursday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, HSBC has a consensus rating of "Buy" and a consensus price target of GBX 795 ($10.09).

HSBC Price Performance

The firm has a market capitalization of £138.52 billion, a P/E ratio of 855.62, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The stock has a fifty day moving average of GBX 711.72 and a 200 day moving average of GBX 684.53.

HSBC Dividend Announcement

The business also recently declared a dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, November 7th will be issued a $0.10 dividend. This represents a dividend yield of 1.11%. The ex-dividend date is Thursday, November 7th. HSBC's dividend payout ratio (DPR) is currently 5,393.26%.

Insider Activity at HSBC

In other news, insider Georges Elhedery bought 41,720 shares of the stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of GBX 718 ($9.11) per share, for a total transaction of £299,549.60 ($380,042.63). 0.32% of the stock is owned by company insiders.

HSBC Company Profile

With assets of $3.0tn and operations in 62 countries and territories at 31 December 2022, HSBC is one of the largest banking and financial services organisations in the world. We serve approximately 39 million personal, wealth and corporate customers through three global businesses. We have around 180,000 shareholders in 126 countries and territories.